[WSBARP] Parent building house on clients' land

[Jon Fritzler]

I'm interested in hearing with how others would deal with the following scenario:

The parents of one of my clients is building a house on property owned by my clients.  Clients' residence is already located on the property.  Parents will reside in the house that they are paying to have built. The property cannot be subdivided. Clients want the parents to be able to recoup their investment in the event clients sell the property, get divorced, or both die, or the parents decide they no longer want to live in the house they build.  Clients and parents have agreed that clients would have 10 years to pay parents back if one of those events occur.

Would a trust deed be appropriate for this scenario?

I have advised clients that I only represent them and that parents should have their own counsel.

Sincerely,
Jon M. Fritzler
Attorney at Law
PO Box 61451
Vancouver, WA 98666
Tel. 360.818.4431
E-mail fritzlerlaw at outlook.com<mailto:fritzlerlaw at outlook.com>

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